Meadwestvaco (MWV) and RockTenn are planning a merger that would create a $16-billion leader in the global packaging industry. The combined company, to be named prior to closing, will have combined net sales of $15.7 billion and adjusted Ebitda of $2.9 billion, including the impact of $300 million in estimated annual synergies to be achieved over three years. MWV, which announced earlier this month that it was planning to spin-off its specialty chemicals business, says the deal has been unanimously approved by the boards of directors of both companies.
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